We assess and structure internal control and internal audit, with a practical reading of financial, operational and organisational risks. Our diagnoses follow the COSO framework: each component of internal control is assessed, then the gaps are turned into procedures and actions. The aim: clearer responsibilities, controls and decision paths.
What we do
- Assessment of the internal control system against the COSO framework: five components, seventeen principles.
- Sarbanes-Oxley (SOX) compliance: documentation and testing of controls for subsidiaries of groups listed in the United States.
- Risk mapping and ranking of what is at stake.
- Drafting and updating of the administrative, financial and accounting procedures manual.
- Delegations of authority, segregation of duties and access-rights matrices.
- Internal audit engagements and process reviews: purchasing, treasury, payroll, inventory, fixed assets.
- Setting up the internal audit function and supporting its teams.
- For banking institutions within scope, review of controls and prudential reporting related to Basel III under the applicable WAMU framework.
Our approach
Diagnosis
We examine practices, talk to those responsible and compare procedures with what actually happens.
Assessment
Each component of the COSO framework is assessed; risks are ranked, and missing or ineffective controls identified.
Drafting
Procedures and delegations are written with the people concerned, then approved by management.
Action plan
Recommendations take your resources into account and become precise actions, with owners and deadlines.
What you receive
- Internal control assessment report based on the COSO framework.
- Risk map and control matrix.
- Procedures manual, ready to be issued.
- Improvement plan, with owners and deadlines.